Real Estate News

Commercial property deals in Canada set record at $43 billion

Commercial property deals in Canada reached a record for a second consecutive year and show no signs of slowing as investors continue seeking high-yield assets in a haven from global turmoil, according to CBRE Group Inc.

Transactions last year totaled about $43 billion, up from 2016’s record of $34.7 billion, the real estate services firm said in a statement. Historically strong fundamentals, such as high rents and low vacancies, are likely to improve even further, pointing to potentially an even higher investment in 2018, according to CBRE.

“Despite the relatively late stage in the cycle, investors are not shying away from Canadian commercial real estate,” Paul Morassutti, executive managing director for CBRE Canada, said in the statement. “We have record-low vacancy rates, record-low unemployment, increasing institutional allocation to real estate and supportive immigration that fuels population growth.”